A WELL-WARRANTED CAUTION ON CAPITAL SPENDING PREVAILS

Let's take a momentary detour from our usual travels around the world of supermarket retailing to consider the plight of that quintessential fast-food vendor, McDonald's Corp., to see if there's any similarity between the cures it's taking for sluggish business and those supermarkets are considering. McDonald's is a vast company with some 31,000 stores worldwide. It got to that size by pursuing rapid

Let's take a momentary detour from our usual travels around the world of supermarket retailing to consider the plight of that quintessential fast-food vendor, McDonald's Corp., to see if there's any similarity between the cures it's taking for sluggish business and those supermarkets are considering. McDonald's is a vast company with some 31,000 stores worldwide. It got to that size by pursuing rapid growth centered on opening big numbers of stores each year. Last year alone, it opened more t

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